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GAC GROUP: Guangzhou GAC Leasing's Capital Increase Agreement to be Completed in Jan 2025
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GAC GROUP (02238.HK) announced that the conditions precedent as set out in the Capital Increase Agreement of Guangzhou GAC Leasing, namely the obtaining of the approval by the relevant financial regulatory authorities and antitrust authorities of the Capital Increase, have been fulfilled. It is expected that upon completion of certain procedural events such as the change of business registration, the Capital Increase will be completed in January 2025. Pursuant to the Capital Increase Agreement, the Subscriber shall pay 80% of the Consideration (i.e. RMB1.706 billion) within one month from the Completion Date to GAC Leasing (via a bank account designated by GAC Leasing), and pay the remaining 20% of the Consideration (i.e. RMB426.5 million) within one year from the date of payment of 80% of the Consideration. AAStocks Financial News |
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